Most Brits think people with second homes should pay more tax
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More than two-thirds of Brits back a tax on second homes to help pay for more social housing. And 62% said taxes should also go up on buy to let properties. The poll asked whether voters would back increased capital gains tax on properties that are not the owner’s primary residence.
YouGov polled 2,157 participants for Common Wealth on their tenure status, social circle and views on housing policy. Analysis of the figures found those who knew more people who rented their homes were more likely to support progressive housing policies.
And based on the poll, Common Wealth say building more social housing and raising capital gains tax for second homes and buy-to-lets would enjoy broad public support. Mathew Lawrence, Common Wealth’s director, said: “Our new analysis shows there is broad support for ambitious reform of the housing system across different social groups.
“We found widespread support for raising capital gains tax on additional properties, across voting preferences and including among groups with more housing wealth, like outright owners.”. Among Labour supporters almost eight in ten (79%) favour higher capital gains tax on second homes and 73% favour higher capital gains tax on buy to lets.
Even among Tory backers, 64% favoured higher capital gains tax on second homes, with 53% backing higher capital gains tax on buy to lets. Among Reform UK supporters, the figures were 63% for second homes, and 59 % for buy to lets. This week the Scottish Parliament backed an increase to taxes paid when buying second homes and holiday homes - in a move that will raise £30 million for public services.
